0033 GMT - Jefferies is bullish about IGO as the investment thesis in the Australian mining company becomes increasingly clear. IGO's spending commitments on the first train of its Kwinana lithium hydroxide plant is tailing off and it has mothballed plans for an expansion. At the same time, production from IGO's Chemical Grade Plant 3 looms. IGO expects first concentrate from the CG3P in the three months through December. "This will deliver a clearer pathway for shareholder distributions," analyst Mitch Ryan says. "However, as IGO approaches Nova's end of life, ongoing soft lithium markets, and limited mandate for M&A, we expect IGO's strategy and value-accretive growth pathway to remain a focus." IGO today said production from the Nova nickel mine will cease at the end of 2026. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 29, 2025 20:33 ET (00:33 GMT)
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